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Judgment
27.03.2025: Heard learned counsel for the Appellant as well as learned counsel appearing for the IRP. This appeal has been filed against the order of the Adjudicating Authority dated 01.05.2024 by which the Section 7 application filed by the Indian Bank has been admitted.
In this appeal interim order was passed on 31.05.2024. Learned counsel for the Appellant submits that the Appellant has paid the entire dues of Financial Creditor and also settled with other members of the CoC.
Learned counsel for the IRP submits that CoC has already approved the proposal and I.A. No.506 of 2025 has been filed under Section 12A before the Adjudicating Authority.
In view of the aforesaid, we see no reason to keep appeal pending. Application under Section 12A having been filed, the same may be considered and disposed of by the Adjudicating Authority in accordance with law. Till the Section 12A order is passed, the interim protection provided in the appeal shall continue. Appeal is disposed of accordingly.